Axon Enterprise, Inc $AXON Stock: Barrett & Company Inc. Grows Holdings

Barrett & Company Inc. boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 2,250.7% during the third quarter, Holdings Channel.com reports. The fund owned 6,582 shares of the biotechnology company’s stock after acquiring an additional 6,302 shares during the period. Axon Enterprise comprises 0.7% of Barrett & Company Inc.’s investment portfolio, making the stock its 29th largest position. Barrett & Company Inc.’s holdings in Axon Enterprise were worth $2,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its position in shares of Axon Enterprise by 627,002.2% in the third quarter. Farmers & Merchants Investments Inc. now owns 282,196 shares of the biotechnology company’s stock worth $119,233,000 after purchasing an additional 282,151 shares during the period. Wedbush Securities Inc. grew its stake in Axon Enterprise by 4,001.7% during the third quarter. Wedbush Securities Inc. now owns 160,664 shares of the biotechnology company’s stock worth $67,884,000 after buying an additional 156,747 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Axon Enterprise by 13,721.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 158,812 shares of the biotechnology company’s stock worth $67,101,000 after buying an additional 157,663 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Axon Enterprise by 4,478.6% in the 3rd quarter. Sterling Capital Management LLC now owns 315,603 shares of the biotechnology company’s stock valued at $133,349,000 after buying an additional 308,710 shares during the period. Finally, WASHINGTON TRUST Co increased its holdings in Axon Enterprise by 40,106.2% in the 3rd quarter. WASHINGTON TRUST Co now owns 199,423 shares of the biotechnology company’s stock valued at $84,260,000 after buying an additional 198,927 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider directly owned 56,264 shares of the company’s stock, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock worth $26,722,984 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AXON shares. Piper Sandler reduced their price target on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Barclays upped their target price on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $689.94.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $420.37 on Friday. The firm’s fifty day moving average price is $480.64 and its two-hundred day moving average price is $473.90. The stock has a market cap of $34.15 billion, a PE ratio of 174.43, a PEG ratio of 7.88 and a beta of 1.44. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $764.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. Axon Enterprise’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, equities analysts expect that Axon Enterprise, Inc will post 2.10 EPS for the current fiscal year.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.